GREENPATH NEWSLETTER
FEBRUARY 2014
GreenPath Unveils New Websites After nearly a year of development, GreenPath recently unveiled an all new consumer website at www.greenpathref.com. Some of the new features you’ll see include: • A clean design, easier to find information with lots of white space • Immediate online chat • Easily viewed on mobile devices • A Search function, so you can find specific content quickly • A new Spanish page with dedicated counselor phone number
“Our clients have remarked that they wanted a faster and simpler experience, as they navigate around our site,” said Jane McNamara, GreenPath president and CEO. “We feel that the new GreenPath website helps make it easier for people to find information and reach out for assistance.” In addition, GreenPath also updated GreenPath University. “GreenPath University still has all the timely personal finance topics and blogs that people are used to seeing,” said McNamara. “However, we’ve streamlined the design to provide even more access to content, all through one or two clicks.” We hope you’ll take a look around the all-new website and let us know what you think!
• A Debt Calculator offering a look at potential savings that a GreenPath Debt Management Plan can offer • A running “News Ticker” of stories mentioning GreenPath • Articles and information presented in a blog format • Calendar of upcoming GreenPath consumer events • Photos of GreenPath employees • More visible client testimonials
www.greenpathref.com | 1-877-337-3399
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GREENPATH NEWSLETTER
New Housing Rules Take Effect
By Kathy Conley – GreenPath Housing Specialist The financial crisis of 2007-2010 led to calls for changes in many of our regulatory systems, including those covering mortgages. The Consumer Financial Protection Bureau (CFPB), established by the Dodd-Frank Act that was signed into law in 2010, is one of those changes. The CFPB recently established new mortgage rules regarding Qualified Mortgages and Ability-to-Repay. Lenders are now incented to offer Qualified Mortgages (QMs), which are mortgages based on some common-sense ideas, such as verifying that the borrower is able to repay the loan and actually understands the loan. To obtain a standard QM, no more than 43 percent of your gross monthly income should be needed to pay your mortgage, and other monthly debt. QMs do not have risky features, and also limit up-front points and fees a borrower may be required to pay.
The Ability-to-Repay rule means that your lender is required to evaluate your ability to repay the loan. The days of “ no document” loans are gone! Remember, just because a lender is willing to loan you money, does not mean it is the right loan for you! It is important that you carefully consider how the mortgage payment fits within your specific budget, and ensure that it still leaves you money to reach other financial goals. GreenPath offers a wide array of free housing counseling. Call our GreenPath Housing Department at 877-337-3399 for free Pre-Purchase, Budget and Credit counseling. Counselors are available Monday through Thursday, 8am-10pm; Friday from 8am-7pm, and; Saturday from 9am-6pm. All times are Eastern.
GreenPath to Offer Special Webinars During America Saves Week By Megan Bridgett, GreenPath Education Manager GreenPath will participate in America Saves Week from February 24-28. Presented by the Consumer Federation of America, this week-long program is a valuable opportunity for consumers to learn and develop good saving habits. GreenPath will be offering a week of special online webinars. If you are thinking about making home improvements, planning a vacation or updating your retirement plan, you’ll want to check out these live, interactive webinars, led by GreenPath’s education department.
Always free and informative, the webinars are offered at noon, with two additional webinars offered at 7 pm. (All times Eastern.) Log on to www.greenpathref.com for more information. To help kick-off America Saves Week, here are five fast ways to start saving today. 1. Track Your Expenses 2. Make Your Goals SMART – Specific, Measurable, Attainable, Realistic and Timely 3. Trim your expenses 4. Communicate 5. Stay positive
Clients give us feedback on our Facebook page from time to time. Here’s a recent message.
Facebook Feedback
On January 7, Tomeaka F wrote: “I just got off the phone with Maria. She was extremely courteous, efficient, and knowledgeable. Within an hour, I was on my way to a less stressful and worrisome 2014. I can’t thank her enough. Here is to no more harassing credit card phone calls and a strong determination to staying in the black!” More than 1,600 people have liked our GreenPath Facebook page so far! Log on to www.facebook.com/greenpathdebt and get news updates, personal finance video links, timely tips and more.
As a member of Community Choice Credit Union, you can take advantage of GreenPath, a financial education and counseling program. To use this service, simply call 1-877-337-3399 or visit them on the web at www.greenpathref.com.